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Tesla shares fall below $17 IPO price after 4th straight decline


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Tesla shares fall below $17 IPO price after 4th straight decline

Automotive News -- July 6, 2010 - 4:12 pm ET

NEW YORK (Bloomberg) – Shares of Tesla Motors Inc., the first U.S. automaker to complete an initial public offering in more than a half century, retreated for a fourth straight day to fall below its IPO price of $17 a share.

The maker of the $109,000 electric Roadster slid $3.09, or 16 percent, to $16.11 at the close of regular Nasdaq Stock Market trading. The company had rallied 41 percent on June 29 after selling shares above the forecast price range for its $260 million offering.

Read more: http://www.autonews.com/apps/pbcs.dll/article?AID=/20100706/OEM05/100709919/1424#ixzz0swTNDW8P

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